Wheat Ridge, CO - June 18, 2001 - ADP Brokerage Services Group, a division of Automatic Data Processing (NYSE: ADP) announced today that six clients have re-signed multi-year agreements with ADP Securities Industry Software (ADP/SIS) to outsource or license their securities transaction processing. ADP/SIS maintains long-term partnerships with its clients because it offers comprehensive solutions to meet clients’ needs. And, ADP/SIS’s commitment to World Class Service ensures that it will strive to exceed clients’ expectations.
BNP Paribas Brokerage Services Inc. is a wholly owned subsidiary of BNP Paribas, the largest bank in France and one of the dozen largest in the world. BNP Paribas Brokerage Services, based in King of Prussia, Pennsylvania, executes and clears over 6 billion shares annually on US equity markets, and provides access to global equities and derivatives markets as well as custody and equity finance services. BNP Paribas will continue to use ADP/SIS’s real-time Brokerage Accounting System, which is an integrated real-time processing system that automates the accounting and back office functions.
D.A. Davidson, based in Great Falls, Montana, a full-service investment firm, is another long-term partner of ADP/SIS. Davidson uses ADP/SIS’s Brokerage Account System. Additionally, Davidson is using ADP/SIS’s POSSEsm, a unique productivity oriented desktop solution, to access a variety of sales, order management, investment management, and other applications through one easy-to-use menu.
Harris InvestorLine is the US brokerage unit of Harris Bank/Bank of Montreal. M.L. Stern & Co., LLC, based in Beverly Hills, California, provides full service brokerage services, customized advice and service to a growing number of corporate, individual and pension investors. Both of these ADP/SIS partners will continue to use ADP/SIS’s real-time Brokerage Accounting System for their back office accounting needs on a service bureau basis.
MJK Clearing, Inc., a wholly-owned subsidiary of Stockwalk Group Inc., is a full-service clearing firm based in Minneapolis, Minnesota that has utilized ADP/SIS services for more than ten years. MJK serves over sixty correspondent broker/dealers across the United States. City Securities Corporation based in Indianapolis, is Indiana's largest independent, full service investment banking firm active in corporate and public finance, securities brokerage, money management, and insurance. These firms use ADP/SIS’s Brokerage Accounting System as well as the POSSE desktop solution for their transaction processing needs.
David Swift, Senior Vice President/General Manager, ADP/SIS comments, "We are very excited about the competitive advantages that our solutions bring to our clients and that they respond with long-term continuing partnerships. ADP/SIS is constantly looking for new ways to improve processing efficiency and offer value-added services, all supported by extremely high levels of customer service."
As a leading provider of securities and information processing software solutions, ADP/SIS specializes in serving discount and electronic-based retail brokerages, as well as correspondent clearing, day trading, regional broker dealers, banks and institutional firms.